Gaia, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Gaia revealed on November 7, 2022, that it is the subject of “an investigation by the staff of the Denver Regional Office (the ‘Staff’) of the U.S. Securities and Exchange Commission (the ‘SEC’)” that began in June 2020. According to the Company, “in September 2022, Gaia and Gaia’s Chief Financial Officer (‘CFO’) reached an agreement in principle with the Staff on a framework for a complete resolution of the investigation.” The Company disclosed that, “the agreement in principle contemplates that Gaia would consent, without admitting or denying any findings, to the entry of an administrative order: (1) finding that Gaia (a) misstated in its April 29, 2019 earnings release and earnings call the number of paying subscribers for the period ending March 31, 2019, … and (b) failed to comply with SEC whistleblower protection requirements with respect to the termination of one employee and the language used in severance agreements for other employees; and (2) requiring Gaia to pay a total civil monetary penalty of $2,000[,000] over a one-year period for these violations. At the same time, the CFO would consent, without admitting or denying any findings, to the entry of an administrative order: (1) finding that the CFO caused Gaia’s misstatements in the April 29, 2019 earnings release and earnings call that is described above; and (2) requiring the CFO to pay a civil monetary penalty of $50[,000].”

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Treace Medical Concepts, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Treace is the subject of a report issued by Culper Research on November 15, 2022. The report alleges that the Company’s Lapiplasty surgical kits are not an advancement of medical treatment, but instead rely on deceptive marketing aimed at patients and aggressive reimbursement practices. Based on this report, shares of Treace dropped by 14% in intraday trading on the same day.

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Silvergate Capital Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. SIlvergate is one of the companies mentioned in a research report published by The Bear Cave newsletter on November 17, 2022. The report alleges that the Company has links to a money laundering operation that transferred $425 million off cryptocurrency platforms following the collapse of FTX. Based on this news, Silvergate shares fell by more than 7.7% in intraday trading on the next day.

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Golden Sun Education Group Limited

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Golden Sun Education Group Limited (“Golden Sun Education” or “the Company”) (NASDAQ: GSUN) for violations of the securities laws.

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DLocal Limited

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. DLocal is the subject of a report published by Muddy Waters Research on November 16, 2022. The report, titled, “DLO: ‘History Never Repeats Itself, but it Does Often Rhyme’”, concludes that “DLO is likely a fraud.” The report claims that the Company “has repeated disclosures about its TPV and accounts receivable that flatly contradict one another.  There is also a contradictory discrepancy between two key subsidiaries’ accounts payable and accounts receivable.  These types of seemingly innocuous misstatements are, instead, often signs of cooked books because it can become quite a strain to keep the numbers straight once you start manipulating them.” The report adds, “Management and directors dumped an extraordinary ~$1 billion in shares within the first five months of DLO being public.  A spate of recent high-level departures brings to mind the idiom about ‘rats fleeing a sinking ship.’” Based on this report, shares of DLocal fell by more than 37% in intraday trading on the same day.

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Twist Bioscience Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Twist is the subject of a research report published on November 15, 2022, by Scorpion Capital. The report describes the Company as “a cash-burning inferno that is not a going concern, operating a ponzi-like scheme that will end in bankruptcy.” Based on this report, shares of Twist fell by more than 18% in morning trading on the same day.

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Veru Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Veru suffered a 51% drop in share price value in intraday trading on November 10, 2022, after an FDA Advisory Committee voted against recommending an EUA for its COVID-19 pill VERU-111.

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R1 RCM Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. R1 suffered from lower fee revenues due to longer payer turn-around times. The Company also experienced decreased net operating fees. These factors caused a massive selloff of R1 shares on November 8, 2022, harming investors.

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Bioventus Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Bioventus conducted its initial public offering (“IPO”) on February 11, 2021, selling 8 million shares for $13.00 per share. The Company’s shares have since plummeted, trading at $2.33 per share in intraday trading on November 9, 2022.

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Enovix Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Enovix released its third-quarter 2022 financial results on November 1, 2022. The Company announced earnings well below expectations, including a loss of $0.15 per share. The Company admitted that “the majority of batteries shipped during the quarter were samples that did not generate revenue.” Based on this news, shares of Enovix plunged by 41% on the next day.

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